bramble company reported a net loss of $29800 for the year ended december 31, 2020. during the year, accounts receivable decreased $14800, merchandise inventory increased $24600, accounts payable increased by $31100, and depreciation expense of $19600 was recorded. during 2020, operating activities
Answers
The net loss of $29,800 reported by Bramble Company for the year ended December 31, 2020, is an important Financial indicator. It shows that the company's expenses exceeded its revenues during that period.
To understand the impact of various activities on the net loss, let's examine the changes in accounts receivable, merchandise inventory, accounts payable, and depreciation expense.
1. Accounts Receivable: The decrease of $14,800 in accounts receivable suggests that the company collected more money from customers than it added to the accounts receivable balance. This means that Bramble Company collected some of the outstanding payments owed to it, which positively affected its cash flow.
2. Merchandise Inventory: The increase of $24,600 in merchandise inventory indicates that Bramble Company purchased or produced more inventory during the year. This suggests that the company either anticipates higher demand or experienced difficulties selling its products, leading to an accumulation of inventory. This increase in inventory contributed to the net loss.
3. Accounts Payable: The increase of $31,100 in accounts payable implies that Bramble Company purchased goods or services on credit and did not pay for them by the end of the year. This increase in accounts payable reflects the company's outstanding liabilities, which contributed to the net loss.
4. Depreciation Expense: The recording of $19,600 in depreciation expense is a non-cash expense that reflects the allocation of the cost of the company's long-term assets over their useful lives. While this expense does not involve an actual cash outflow, it reduces the company's net income and contributes to the net loss.
In summary, Bramble Company's net loss of $29,800 for the year ended December 31, 2020, was affected by multiple factors. The decrease in accounts receivable and the increase in accounts payable indicate changes in the company's cash flow, while the increase in merchandise inventory and the recording of depreciation expense directly impacted the net loss.
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Related Questions
Real Estate Question
A buyer is purchasing a property for $500,000. He has a down payment of $50,000 and is financing the rest. What's the amount of the loan origination fee if the lender charges one-and-a-half points? Please explain your work as well.
Answer Choices:
$5,000
$6,750
$750
$7,500
Answers
Answer:
Amount of the loan origination fee = $7,500
Explanation:
Given:
Purchase cost of house = $500,000
Down payment cost = $50,000
Lender charges point = 1.5 points[%]
Find:
Amount of the loan origination fee
Computation:
Amount of the loan origination fee = Purchase cost of house x Lender charges point
Amount of the loan origination fee = 500,000 x 1.5%
Amount of the loan origination fee = $7,500
which of the following is a responsebility of an HR manager.
a. making final decisions on whom to hire
b. providing employees with advice about compensation
c. making sure office politics leads to exclusive groups
d. stroking competition between employees over opportunities
Answers
The responsibility of an HR manager is Option B. providing employees with advice about compensation.
The HR manager is responsible for overseeing and managing employee-related tasks within the company. HR managers deal with employment contracts, compensation, employee relations, health benefits, and legal compliance with employment laws and regulations. The HR manager is responsible for developing, implementing, and managing employee policies, procedures, and programs.
The HR manager is responsible for managing employee relations, training, and development. HR managers must ensure that the company complies with all employment laws and regulations. They must maintain employee records and handle employee grievances and disputes. Employees need to be paid appropriately and HR managers are responsible for making sure this happens.
HR managers are responsible for keeping up-to-date with changes in employment law and compliance requirements. HR managers must ensure that employees receive the benefits they are entitled to. HR managers are responsible for developing employee incentive programs that help retain top talent and reduce turnover rates.
In conclusion, HR managers have a variety of responsibilities, including overseeing employee policies and procedures, managing employee relations, ensuring compliance with employment laws and regulations, and managing compensation and benefits. Providing employees with advice about compensation is a key responsibility of an HR manager. Therefore, the correct option is B.
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An IAR has opened an account for a new customer. The customer is "on the road" for 3-4 weeks per month and has given the IAR verbal authorization to trade her account on a discretionary basis. The IAR sends the customer a written power of attorney for signature and return. 1 week after opening the account, the IAR hears of a good investment opportunity and buys 500 shares of the XYZ stock at $50 for the customer's account. 3 weeks later, the stock declines and the IAR sells the stock at $30 per share. The customer never returned the signed power of attorney. Liability for the loss rests with the:
Answers
Answer:
The investment advisory firm which employs the investment adviser representative (IAR).
Explanation:
FINRA's rules specifically state that before any transaction, the IAR must have a signed power of attorney. The IAR cannot start trading or operating with the client's money until he/she has received a signed written power of attorney from the client. Only after the signed power of attorney has been given tot eh IAR, can he/she act on discretionary basis.
If the IAR is not a registered broker-dealer, then NASAA rules state that oral agreements are valid for up to 10 business days, but the IAR must have a written authorization after that time expires. I.e. the IAR could buy the stocks, but he/she was not authorized to sell them. So any loss is responsibility of the firm that employs the IAR.
Which of the following products is likely to be assembled on a repetitive process line?
a) automobiles
b) personal computers
c) dishwashers
d) television sets
e) all of the above
Answers
The correct answer is e) all of the above. All of the listed products (automobiles, personal computers, dishwashers, and television sets) are likely to be assembled on a repetitive process line.
A repetitive process line is a manufacturing approach that involves a sequential assembly of products using standardized and repetitive tasks. It is commonly used for products that have consistent design and require high volume production. The assembly process involves the sequential movement of products along an assembly line, with each worker or workstation performing a specific task in the overall assembly process. This approach allows for efficient and consistent production of large quantities of products with minimal variation. Therefore, all the listed products can be efficiently assembled using a repetitive process line.
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What is the best animal?
Answers
Answer: The answer is Dogs
Explanation: Dogs are the best animal because They're not just popular- historically, the symbiotic relationship between dogs and people helped both species survive.
What is the author's main claim or argument?
Pizza is the best
Answers
1.05 the market place economic
Answers
A market economy serves as an economic system in which economic activities is been controlled by individuals.
What is market economy?market economy serves as the economy that that gives country's individual citizens and businesses to be able to make decisions .
This decision could be pricing of goods and services which are been controlled by the interactions of a country's individual citizens.
COMPLETE QUESTION:
Explain market place economy
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The following questions concern auditor responsibilities related to the identification and assessment of fraud risk. Choose the best response.
Question content area bottom
Part 1
a. While performing a preliminary assessment for a new client audit, the auditor determines that the client has had excessive growth over the past several years due to recent acquisitions and internal expansion. Through discussions with management, the auditor concludes that the company's operational staff is too lean and that internal controls in several operational functions may be currently insufficient to accommodate this rapid growth. About which of the following fraud risk factors related to the client would the auditor have the greatest concern?
1.
Rationalization/attitude
2.
Inadequate organizational structure
3.
Opportunity
4.
Incentives/pressures
Answers
The correct option would be No. 2 Inadequate organizational structure. In the given scenario, the auditor has determined that the client has had excessive growth over the past several years due to recent acquisitions and internal expansion.
Through discussions with management, the auditor concludes that the company's operational staff is too lean and that internal controls in several operational functions may be currently insufficient to accommodate this rapid growth. With the lack of adequate controls and a lean operational staff, the auditor would be concerned with the Inadequate organizational structure fraud risk factor. In the given scenario, the company's rapid growth could have overwhelmed the current control systems and resources in place.
The lack of adequate organizational structure, which is responsible for the design and implementation of internal controls to prevent, detect and deter fraud, could increase the risk of fraud. The other fraud risk factors that are typically considered by auditors include rationalization/attitude, incentives/pressures, and opportunity. However, in the given scenario, the inadequate organizational structure represents the highest risk for fraud.
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Which person's unemployment is an example of frictional unemployment?
А
a rocont collogo graduato who is sooking to enter the workforce for the first timo
B
a factory worker who was laid off during a recession in order to cut operating costs
a retail salesperson who is looking for work after a period of seasonal employment at a departmen
D
an inexperienced computer programmer who lacks the human capital sought after by employers in
Answers
What are Level 3 questions examples?
Answers
Level 3 questions examples are
Is there such a thing as “love at first sight”?
Does a woman need to marry a prince in order to find happiness?
Are we responsible for our own happiness?
What does it mean to live happily ever after?
Does good always overcome evil?
Level 3 questions generally are beyond the given text. But they show an understanding of the ideas in the text. Mostly related to reasoning, complexity, and/or planning. In these types of questions, we basically justify our position on thinking and provide for supporting evidence of our conclusions.
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To address inconsistencies and weaknesses, a comprehensive revenue recognition model was developed entitled theA) Revenue Recognition Principle.B) Principle-based Revenue Accounting.C) Rules-based Revenue Accounting.D) Revenue from Contracts with Customers.
Answers
A thorough revenue recognition model known as the Revenue from Contracts with Customers was designed to overcome shortcomings and inconsistencies. Therefore, D) Revenue from Contracts with Customers is the right answer.
The accrual accounting concept of revenue recognition states that rather than when cash is received, revenues must be recognised when they are generated and realised.
Revenue recognition is a type of generally accepted accounting principle (GAAP) that outlines the specific conditions for when and how to record revenue. Revenue is often realised when an important event happens, and the firm can easily measure the financial amount. Revenue is the cornerstone of every corporate performance. The cornerstone is the sale. Regulators are aware of how enticing it may be for companies to stray from what is considered to be income, particularly when not full payment is made until the job is complete.
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This graph shows the relationship between the amount of two products a
company can make. This is also known as a(n):
Product A
7
3
A
VO
39
Product B
OA. opportunity cost graph.
OB. capital investment model.
OC. projected annual growth plan.
OD. production possibilities curve.
QB
65
Answers
The graph which shows the relationship between the amount of two products a company can make is also known as a production possibilities curve. The Option D is correct.
What is the use of production possibilities curve in economics?The Production Possibilities Curve (PPC) is a model that illustrates the tradeoffs involved in allocating resources between the production of two goods. Scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contractions can all be illustrated using the PPC.
Because the PPF is a curve based on two variables representing resources between two goods, the data can be manipulated to see how scarcity, growth, inefficiency, efficiency, and other factors affect production.
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Question 6
Eqaute Co produces a single product. During the year ended 31 August 2021, 4,000 units were produced and 4,000 were sold at $160.00 per unit. There was no opening or closing inventory. The costs of manufacturing during the year were shown as follows:
$
Direct Materials 240,000
Direct Labor 80,000
Production overheads (40% is variables and 60% is fixed) 136,000
Variable Selling and distribution costs 8,400
Fixed selling and administration overheads 160,000
Required
Calculate the production cost per unit using marginal and absorption costing. Calculate the profit in the month of August 2021 using Absorption and marginal costing system.
Answers
Production overheads refer to indirect expenses incurred in the manufacturing process that cannot be directly linked to a particular product. The following calculations will be used to calculate the production cost per unit using both marginal and absorption costing methods as well as the profit in August 2021 using the same costing methods:Calculation of the production cost per unit using marginal and absorption costing methods:Calculation of production cost per unit using marginal costing:Variable cost per unit=Direct materials+ Direct labor +Variable production overheads= $6+ $9+$16=$31Fixed production overheads=$136,000Total units produced= 8000 units
Therefore, Production cost per unit using marginal costing=$31+ (136,000/8,000) = $48.5Calculation of production cost per unit using absorption costing:Variable production overheads per unit= 40% of $16= $6.4Fixed production overheads per unit= $136,000/8,000=$17Total production cost per unit= $6+$9+$6.4+$17= $38.4Calculation of profit in August 2021 using absorption and marginal costing systems:Profit=Sales revenue- Production costUsing marginal costing:Contribution per unit= Selling price per unit-Variable cost per unit=$80-$31= $49Total contribution= Contribution per unit x total units sold= $49 x 7000= $343,000
Therefore, Profit= Total contribution - Fixed overheads= $343,000- $136,000= $207,000Using Absorption costing:Sales revenue= Total units sold x selling price per unit= 7000 x $80= $560,000Total production cost= $38.4 x 7000= $268,800Profit= Sales revenue - Total production cost - Fixed overheads= $560,000 - $268,800 - $136,000= $155,200In conclusion, the production cost per unit using absorption costing is $38.4, while that using marginal costing is $48.5.
The profit in August 2021 using absorption costing is $155,200, while that using marginal costing is $207,000. Marginal costing does not allocate fixed overheads to products and is useful in decision-making, while absorption costing is necessary for external financial reporting and satisfying tax regulations.
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Is the following scenario a partnership? Performing in a twenty-piece band with a rotating showcase of trumpeteers.
OYes
ONo
Answers
Answer:
no
Explanation:
there isn’t a sense of ownership between two people
URGENT!!! When payroll expenses are journalized, the payroll tax expense is entered as ___.
A. a debit
B. neither a debit nor a credit
C. a credit
D. a debit and credit
Answers
When payroll expenses are journalized, the payroll tax expense is typically entered as a debit.
Therefore, the correct answer is A. a debit.
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Janelle owns a business within the hospitality and tourism industry and recently let an employee go because the employee’s lack of productivity was beginning to negatively impact the company’s profit margin. Provide a description of what this employee’s lack of productivity may have looked like and analyze potential ways that it could have impacted the profit margin. Feel free to fabricate or create a hypothetical situation.
Answers
The employee must have lacked good relationship skills with customers and clients, thereby leading to reduction in patronage.
How poor communication and relations affect patronageThe employee that was let go was one that had difficulty getting the requests and the need of the Clients. She was sometimes rude to the customers as well.
The effect that this had on the business was massive due to the fact that the customers had to stop patronage for a while after they had laid series of complaints.
Hence the need to let the employee go so as to get a worker that is more productive and job ready for the position.
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Which of the following budgets
would be considered balanced?
A budget where the amount you spend is greater than the amount you
earn.
A budget where the amount you earn is equal or less than to the amount
you spend.
A budget where the amount you save is less than the amount you spend.
A budget where the amount you spend is equal or less than the amount
you earn.
Answers
in what is commonly known as a proceeds transaction, one of your clients is using the proceeds from the liquidation of one stock to purchase another stock. in compliance with the 5% markup policy for these transactions, the markup will be computed based on
Answers
The markup for the proceeds transaction will be computed based on the difference between the purchase price of the new stock and the net amount received from the sale of the old stock, after deducting any applicable fees and expenses.
To provide a more detailed explanation, the 5% markup policy requires that brokers or dealers mark up the price of securities they sell by no more than 5% above the prevailing market price. In the case of a proceeds transaction, the broker or dealer is using the proceeds from the sale of one security to purchase another security for the client.
The markup for this transaction is calculated by taking the purchase price of the new stock and subtracting the net amount received from the sale of the old stock, which is the total sale price minus any fees or expenses associated with the sale.
In this type of transaction, the client sells one stock and uses the proceeds to buy a different stock. The 5% markup policy is applied to ensure that the markup charged by the broker-dealer for the new stock purchase remains within a reasonable and fair range. This policy is in place to protect the client's interests and to maintain transparency in the transaction process. Client liquidates one stock and receives the proceeds. Client uses the proceeds to purchase a new stock. Broker-dealer computes the 5% markup based on the cost of the new stock being purchased.
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The auditor examines details of accounts receivable to determine whether they arise from normal course of business. What is the balance-related management assertion being made? What is the corresponding auditor objective? for the toolbar, press ALT-F30 (PC) or ALT-FN-F10 (Mac)
Answers
If an auditor believes the chance of financial failure is low and there are no significant changes in the financial condition or operations of the company, the auditor's assessment would likely be that the going concern assumption remains valid.
This means that the auditor believes the company will continue its operations in the foreseeable future without the need to liquidate its assets or cease operations. The going concern assumption is an important consideration for financial statement users, as it provides assurance that the company is financially stable and able to meet its obligations.
The auditor's conclusion of a low risk of financial failure reinforces stakeholders' confidence in the company's continued operations.
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If you were starting a new business describe at least three departments to the company that you would need right away why are these departments so important
Answers
Answer:
Explanation:
These departments are as follow:-
1) Admin
2) Administrative
3) HOD (Head Of Departments)
Which of the following are examples of limited resources on the part of consumers?
product and space
money and product
time and money
space and time
Answers
Answer:
The answer is time and money
Explanation:
I took the test on edge
Examples of limited resources on the part of consumers are time and money.
What are limited resources?
Limited resources are resources that can be depleted. They are of limited availability. As these resources are used, they decline.
For example, no one has an unlimited supply of money. As money is spent, the amount of money one has reduces. Also, time is limited. One has 24 hours in a day.
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If melisha can pay for her vehicle with a 4 year loan or with a lease with the same down payment and same interest rate why will the loan have a higher monthly payment
A. Because the loan is riskier to the financing company
B. Because the lease is riskier to the financing company
C. Because melisha will own her vehicle at the end of the lease
D. Because melisha will own her vehicle at the end of her loan
Answers
favorite song by youngboy (fr/ee points but answer the question)
Answers
Answer:
white teeth and nevada
Explanation:
Answer:
from the youngboy songs life support
types of literature in English
Answers
Explanation:
{All Fiction}
Drama
Stories composed in verse or prose, usually for theatrical performance, where conflicts and emotion are expressed through dialogue and action.
Fable
Narration demonstrating a useful truth, especially in which animals speak as humans; legendary, supernatural tale.
Fairy Tale
Story about fairies or other magical creatures, usually for children.
Fantasy
Fiction with strange or other worldly settings or characters; fiction which invites suspension of reality.
Fiction
Narrative literary works whose content is produced by the imagination and is not necessarily based on fact.
Fiction in Verse
Full-length novels with plot, subplot(s), theme(s), major and minor characters, in which the narrative is presented in (usually blank) verse form.
Folklore
The songs, stories, myths, and proverbs of a people or "folk" as handed down by word of mouth.
Historical Fiction
Story with fictional characters and events in a historical setting.
Horror
Fiction in which events evoke a feeling of dread in both the characters and the reader.
Humor
Fiction full of fun, fancy, and excitement, meant to entertain; but can be contained in all genres
Legend
Story, sometimes of a national or folk hero, which has a basis in fact but also includes imaginative material.
Mystery
Fiction dealing with the solution of a crime or the unraveling of secrets.
Mythology
Legend or traditional narrative, often based in part on historical events, that reveals human behavior and natural phenomena by its symbolism; often pertaining to the actions of the gods.
Poetry
Verse and rhythmic writing with imagery that creates emotional responses.
Realistic Fiction
Story that can actually happen and is true to life.
Science Fiction
Story based on impact of actual, imagined, or potential science, usually set in the future or on other planets.
Short Story
Fiction of such brevity that it supports no subplots.
Tall Tale
Humorous story with blatant exaggerations, swaggering heroes who do the impossible with nonchalance.
{All Nonfiction}
Biography/Autobiography
Narrative of a person's life, a true story about a real person.
Essay
A short literary composition that reflects the author's outlook or point.
Narrative Nonfiction
Factual information presented in a format which tells a story.
Nonfiction
Informational text dealing with an actual, real-life subject.
Speech
Public address or discourse.
question one please. thank you
Answers
Answer:
companies like Nike Inc have mission statements to attract the attention of the public .. thereby making it more easy to sell their products in the market
If a bank receives a $1 million discount loan from the Federal Reserve, then the bank's reserves will:_____.
a. increase by $1 million.
b. not change.
c. increase by less than $1 million.
d. increase by more than $1 million.
Answers
Answer:
increase by more than $1 million
Good Luck! D Question 20 Under one theory of corporate social responsibility, corporations should promote goals that society deems worthwhile. 4 O False O True • Previous
Answers
Under one theory of corporate social responsibility, corporations should promote goals that society deems worthwhile. This statement is True.
What is corporate social responsibility?Corporate social responsibility (CSR) is the responsibility of an organization for the impacts of its choices and activities on society and the environment, and the ethical conduct of its operations, in the context of sustainable development.
A theory of corporate social responsibility states that corporations should promote goals that society deems worthwhile.
Theory of corporate social responsibility
The theory of corporate social responsibility (CSR) involves businesses attempting to make a positive impact on society.
According to the theory, corporations should do more than just make a profit.
They should also consider the well-being of the people, society, and the environment.
It implies that companies should be socially responsible in their operations.
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1
386000
7
3 Tax calculation:
9 Year (£'000s)
o Net operating cashflows
1 Capital allowances
2 Taxable profit/loss
33 Tax at 20%
34 Payable
2
3
400851 315844
4
77397
386000
77200
Year 2
400851 315844
80170 63169
Year 3 Year 4
77397
15479
Year 5
35
36 Payback period
37
38 Year
39 Cashflow
£'000 £'000
0
1
-2,345,000 386,000
£'000 £'000 £'000
2
3
4
400,851 315,844 402,397
£'000
5
0
40
41 Cumulative
Answers
Answer:
The question is not comprehensive.
Explanation:
Send the image of the question.
what is y=x^3+7x^2+14x+8
Answers
Answer:
x=−2,−1,−4
Explanation:
you need to be more specific in what you want. These are the zeros for the problem
Has the participant made informed job choices in the past?.
Answers
Answer:
Yes!
Explanation:
I hope this helps you! :)
Taking well-informed decisions also encourages thinking beyond the traditional career choices and thinking different and beyond the usual. It also helps find the passion in lives and how they can use the passion to build a career or bring about passion in what they do by choosing to align on values and thinking.
How do you make informed choices?Here are seven steps to help you make informed decisions:
Identify the problem. Collect data and information. Brainstorm all possible alternatives. Weigh the alternatives. Take your pick. Enact a plan. Review the decision.What is an informed decision example?An example of informed is someone making the decision to attend a specific school after researching what the school has to offer them; an informed decision.
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